Hurricane Irene: a mixed bag for retailers


NEW YORK (AP) -- Hurricane Irene's impact on retailers is similar to its effect on various states. Some got hit hard. Some didn't get hit at all. And although there's billions of dollars in losses, it will take time to fully assess the damage.

Home-improvement retailers and grocers fared well as people snapped up emergency supplies like water, batteries and sump pumps. Sales at department and clothing stores, movie theaters and hotels slumped during what is typically an important back-to-school shopping weekend for many of them.

Overall, some estimate that the retail industry lost about $1.3 billion in revenue over the two-day period, or 25 percent of what it normally would have made over the weekend. But the full impact of the storm may not become completely apparent until many weeks later.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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